TRADE PROBLEMS

Otago Daily Times, Issue 20691, 13 April 1929, Page 13

TRADE PROBLEMS

BRITAIN AND AUSTRALIA. s A BETTER UNDERSTANDING. ' (United Press Association.) (By Electric TelegrspU—Copyright)' LONDON, April 12. (Received April 12, at 5.5 p.m.) Australian trade problems were lengthily discussed at a dinner in London. The dinner was held at Australia House and was given by Sir Granville Ryrie, the Australian High Commissioner, for members of the Economic Mission. The guests included Mr L. C, Amery, Viscount Novar, Lord Plymouth, the A gents-general, Mr H. Homburg and Mr H. C. Richards, from the' South Australian Parliament, and Mr Justice Scholes, from Sydney. Sir Arthur Duckham was absent as he was suffering from a cold. Sir Granville Ryrie, in proposing the toast of the members of the mission simply emphasised their conclusion that though some loans had been spent on projects without the fullest investigation Australia’s national income and sources of revenue were amply sufficient to enable the Government to provide for the service and repayment of the public “ e “t.- He hoped that this statement a° U :“ . sto P to® carping criticism of Australian finance, which was too common in the British press. Sir Hugo Hirst, in response to the toast, said _ that he could not forget Ins impression on discovering that Australia was not one country as ihe had thought, but six States with a- mo»t proud sovereign status. He said that he believed that the chief cause of the British misunderstanding of Australia’s needs was the failure to realise that onethird of the Australians lived on- the land and two thirds in the cities.and, that they had the same pleasures and aspirations as ,the people of Britain. In all discussions between employers and employees they found economic heresies on both sides, but they were proud of the most hopeful industrial peace conferences with which they had been associated.. The greatest, lesson learned by himself was the importance of British trade principles. They themselves were going to study. Australian conditions, and in the second place Australia s scientific and other problems could not be left to the Australians alone. They were Empire problems, the solution of which all the experts of Britain must take in hand. ~ Ernest Clark stressed the fact pat constant inertia was encountered in Britain in connection with the dominion problems. ' For instance finances picked out a passage referring to some Australian borrowing in recent years as bolstering up the preconceived notion that Australia had overborrowed. He believed that they could best serve Australian interests by the circulation of ?BiQ atIS Ji lCal * ab le comparing Britain in . ter . Napoleonic wars with rintain and Australia at present, showmg that on a basis of £IOO in 1818 Britain s per capita income in 1926-27 wa ® £460, and her debt charge £567 that Australia’s per capita income was £623 and her debt charge £266. Sir Ernest Clark, dealing with Australia s wonderful resources, warninglv declared that if by any chance artificial wool were discovered it would deal Australia a blow from’ which it would take years to recover. Mr Dougal ‘ Malcolm expressed ’ the opinion that Australia had a chance of becoming a great cattle country, it ■ realised the necessity for large capital! which could not be attracted without facing the questions of real security, tenure and adequate areas. 9’ Amei 7, in toasting Sir Granville Ryrie, expressed the opinion that the most valuable part - of the report of the members’ mission was yet to «>me. He suspected that though Mr Bruce wanted the report he wanted still more Board of Trade ambassadors for Australia. Britain, who could not bo suspected of partiality, thoroughly endorsed. the view which Sir Granville Ryrie recently expressed in favour of not only buying but also investing in British goods. Mr Bruce had emphasised that men, money and markets were inseparable.. The speaker would like to put it a different way. The more they invested in and bought British goods the more they would be able to sell to the British. Mr J. H. T £ om as facetiously toasted Sir Granville Ryrie. He said, that he supposed he would shortly be reforming, the Colonial Office unless he got an even bigger appointment. Though he intended to fight for the ideals of his party he was determined not to let down the country and the Empire, of which he was very proud.—Australian Press Association—United Service. "